Seaborne shipments passed 10 billion tons for the first time ever in 2015, up 2.1 percent from 9.8 billion tons the year before - the slowest pace of growth in the industry since 2009, according to the UNCTAD Review of Maritime Transport 2016. The report says future growth looks uncertain.

The Panama Canal Authority (ACP) has unveiled a new recognition program for clean operators that will help them to get ahead of the pack for transit bookings. The ACP calls the new system "environmental premium ranking."

South Korea's finance minister has announced the government plans to support orders of 250 or more vessels by 2020 to help local shipbuilders. The government plans to establish a state-backed ship financing company with an initial capital of 1 trillion won ($871.73m) to help improve the financial health of Korean shipping companies.

The current downturn in the offshore industry has put offshore supply vessels into layup, operators into receivership and shipbuilders into a tailspin, industry professionals say. It has meant layoffs for thousands of mariners, but it's also having an impact on officers in a different way: a shortage of sea time.

Hanjin Shipping's European routes services have completely halted, the company said last week, and a Seoul court overseeing its receivership process has approved winding down four of its European units.

A new deepwater port is planned for Arkhangelsk in the north of European Russia, according to Northern Shipping Company Arkhangelsk, a Russian shipping company. The new deepwater hub will be suitable for year-round handling of large capacity vessels and will be situated 55 kilometers (34 miles) north from Arkhangelsk near Mudyug Island, in the northern part of the Sukhoye Morje Bay, says NSC Arkhangelsk.

Gearbulk and Grieg Star have announced that they will be combining their efforts to form a single dry bulk shipping company. They say the joint venture will operate the parties' combined fleet of open hatch, semi open hatch and conventional bulk vessels.

South Korea's Hyundai Merchant Marine said this week it may submit a preliminary bid for Hanjin Shipping assets used in Asia-to-U.S. routes - a sale that could be key to Hanjin's prospects for paying off creditors. Hanjin, which filed for court receivership on August 31 after its creditors cut off financial support for the firm, put up manpower and logistics systems, five container ships and 10 overseas businesses for sale last week.